Kenneth Irvine Chenault|
June 2, 1951
Mineola, New York
|Occupation||Former CEO of American Express|
|Salary||US$2 million (2016)[better source needed]|
Kenneth Irvine Chenault (born June 2, 1951) is an American business executive. He was the CEO and Chairman of American Express from 2001 until 2018. He is the third black CEO of a Fortune 500 company.
Early life and education
Chenault was born in Mineola, New York, Nassau County, the son of a dentist and dental hygienist. His father, Hortenius Chenault, was a graduate of Morehouse College and Howard University Dental School. The elder Chenault passed the New York State dental exam with the highest score ever recorded as of January 2014. Kenneth Chenault attended the Waldorf School of Garden City, where he served as senior class president. He then received a B.A. in history from Bowdoin College in 1973, and a J.D. from Harvard Law School in 1976.
Chenault is the co-chair of the Business Roundtable, a board member at IBM, and a member of the Council on Foreign Relations. He is a member of the Executive Committee of The Business Council for 2011 and 2012.
In 1995, Ebony listed him as one of 50 "living pioneers" in the African-American community. Chenault was inducted into the Junior Achievement U.S. Business Hall of Fame in 2002. In 2008, he gave the commencement address at Howard University.
On October 18, 2017, he announced that he would retire as its chairman and chief executive on February 1, 2018. He was succeeded by Stephen J. Squeri.
As CEO of American Express in 2007 and 2008, Chenault earned a total compensation of $50,126,585 and $42,752,461 respectively. In 2009, he earned a total compensation of $16,617,639, which included a base salary of $1,201,923, a cash bonus of $10,450,000, an option grant of $3,985,637, and other compensation worth $980,079.
In 2016, Chenault earned a total compensation of $22 million.
On November 15, 2010, Old North Foundation recognized Chenault with its Third Lantern Award for individual commitment and dedication to public service. The Foundation honored Chenault and American Express for their significant contributions to the preservation efforts of many significant monuments and landmark structures, including the steeple of the Old North Church.
Chenault and wife, Kathryn, are founding donors to the Art for Justice Fund, which aims to reduce prison populations and strengthen employment opportunities for those leaving.
On February 10, 2014, it was announced that he had been elected to fill a vacated seat of the Harvard Corporation; the Corporation is the chief fiduciary authority of the University and is the smaller of the two governing boards, the other being the Harvard Board of Overseers).
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| Chief Executive Officer of American Express